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Double Bay Residences @ Simei Review: Resort-themed Homes for Families

Published 26 July 2024

Double Bay Residences, situated in Simei in District 18, is a 99-year leasehold condominium developed by Secure Venture Development (Simei) Pte Ltd. It comprises 646 residential units across 14 towers of 13 storeys.

Looking to buy a property in Singapore that has a relaxed, resort-style environment? Then this is the abode for you. Besides being close to the train station, there are a lot more things that this property has to offer.

Double Bay Residences Review: 4 Reasons It’s an Ideal Home

1. Specifications and Perks for Own Stay
2. Accessibility, Amenities, and Recreational Spots
3. Education, Employment, and Healthcare
4. Property Price and Future Developments

1. Specifications and Perks for Own Stay

Project Name

Tenure

TOP

Unit Type (up to)

Size in sqft

Average Price PSF (up to)

Double Bay Residences

99-year leasehold

2012

1-bedroom
2-bedroom
3-bedroom
4-bedroom
5-bedroom

635
1,001
2,142
3,057
3,488

$1,091

Double Bay Residences is decked with first-rate facilities such as a 50m lap pool, main pool, jungle pool, elevated jacuzzis, and other tasteful water features. Accompanying them are sports facilities such as a tennis court, sky gymnasium, half basketball court, aerobic and yoga room, table tennis court, outdoor fitness station, jogging track, and even a golf practice corner.

The rooftop garden complements the urban-natural scenery of the development, offering a handful of spots for you to relax and unwind after a long day. Other facilities include a library, a function room, karaoke rooms, band and piano rooms, a pool table, a game room, and more.

2. Accessibility, Amenities, and Recreational Spots

The nearest train station is Simei MRT Station on the East West Line (EWL), which is a five-minute walk away. It is close to four expressways: East Coast Parkway (ECP), Pan Island Expressway (PIE), Tampines Expressway (TPE), and Kallang-Paya Lebar Expressway (KPE). It would take you about 20 minutes to drive to the Central Business District (CBD) and 18 minutes to Orchard Road.

Head down to the nearest mall, Eastpoint Mall, if you need to do grocery shopping or get necessities. Surrounded by multiple towns like Changi, Tampines, and Bedok, Double Bay Residences’ location gives you an impressive range of dining and shopping options.

You have access to high-end shopping centres and entertainment avenues like Jewel Changi Airport, Changi City Point, Century Square, Tampines 1, and Tampines Mall. The closest recreational spot would be in Changi, where there is a beach, park, and chalets.

3. Education, Employment, and Healthcare

Double Bay Residences is close to several schools and colleges. There are eight childcare centres, a kindergarten, and two schools, Changkat Primary School (466m) and Changkat Changi Secondary School (359m). These are all less than 500m away, so your little one can get to school in less than five minutes.

Other nearby educational institutions include Metta School, Ngee Ann Secondary School, Chongzheng Primary School, Pasir Ris Primary School, and Singapore University of Technology and Design.

The condominium complex is strategically located close to Changi Airport (10-minute drive), Changi Business Park (six-minute drive), Tampines Central (10-minute drive), and Pasir Ris Wafer Fab Park (14-minute drive), which is going through an expansion and can result in more jobs closer to home and an increase in potential tenants.

Need to see a doctor? The nearest hospitals are Changi General Hospital and St. Andrew’s Community Hospital, a seven-minute drive from the property.

4. Property Price and Future Developments

The price of a three-bedroom apartment (1,453 sqft) on Double Bay Residences’ low-level floor between 2017 and 2019.

January to December 2017 – up to $1,340,000
January to December 2018 – up to $1,380,000
January to December 2019 – up to $1,425,000

Since 2017, property rental prices at Double Bay Residences have been increasing. We can foresee the price rising over the years, thanks to upcoming developments like new amenities, community spaces, improved connectivity, industrial hubs, and recreational facilities.

Is Double Bay Residences the home you’ve been dreaming of? Talk to our real estate consultants and get VIP agent service. Call 6886 9009 now!

Buyer’s Stamp Duty for Double Bay Residences

Buyer’s Stamp Duty (BSD) is a tax paid on documents signed when you buy or acquire property located in Singapore.

If you opt to buy a three-bedroom unit at Double Bay Residences, the price is $1,425,000, which is reflective of the market value. Your Buyer’s Stamp Duty (BSD) is $41,600.

Market Value of the Property

BSD Rate

Calculation

On the first $180K

$1,800

On the second $180K

$3,600

Next $640K

$19,200

Next $500K

$20,000

Next $1.5M

$75,000

Remaining amount

Source: IRAS

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Additional Buyer’s Stamp Duty for Double Bay Residences

Liable property buyers in Singapore are required to pay Additional Buyer’s Stamp Duty (ABSD) on top of the existing BSD. ABSD and BSD are computed on the purchase price as stated in the dutiable document or the market value of the property (whichever is the higher amount).

Who is liable to pay ABSD:

Singapore Citizens (SC) buying second, third, and subsequent residential properties
Singapore Permanent Residents (SPR) buying first, second, and subsequent residential properties
Foreigners or entities buying any residential property

ABSD for Singapore Citizens When Buying Double Bay Residences

Here’s the ABSD amount you are required to pay if you are an SC.

Property Ownership

ABSD Rate

ABSD Amount from Price $1,425,000

If Double Bay Residences is your second residential property

20%

$285,000

If Double Bay Residences is your third or subsequent residential property

30%

$427,500

ABSD for Singapore Permanent Resident When Buying Double Bay Residences

Here’s the ABSD amount you are required to pay if you are an SPR.

Property Ownership

ABSD Rate

ABSD Amount from Price $1,425,000

If Double Bay Residences is your first property

$71,250

If Double Bay Residences is your second property

30%

$427,500

ABSD for Foreigners When Buying Double Bay Residences

Here’s the ABSD amount you are required to pay if you are a foreigner.

Property Ownership

ABSD Rate

ABSD Amount from Price $1,425,000

Foreigners buying any property

60%

$855,000

Best Mortgage Rates for Double Bay Residences

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Found your dream home at Double Bay Residences? Talk to our mortgage brokers with over 30 years of experience and get the lowest mortgage rates. Our home loan specialists will assist you with everything you need to know, from Total Debt Servicing Ratio (TDSR), Loan to Value (LTV) Limits, and Legal Conveyancing to home valuation inquiries.

Our real estate consultants can also provide you with insights about this new launch project and assist you with everything you need to know, from BSD, ABSD, and exercising the OTP to sealing the deal or even your property resale plans in the future.

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